Baker Hughes Incorporated (BHI - Free Report) is a company engaged in the oilfield and process industries that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BHI’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Baker Hughes could be a solid choice for investors.
Current Quarter Estimates for BHI
In the past 30 days, 11 estimates have gone higher for Baker Hughes while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 36 cents a share 30 days ago, to a loss of 17 cents today, a move of 52.8%.
Current Year Estimates for BHI
Meanwhile, Baker Hughes’ current year figures are also looking quite promising, with 7 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $2.20 per share 30 days ago to a loss of $1.73 per share today, an increase of 21.4%.
BAKER-HUGHES Price and Consensus
The stock has also started to move higher lately, adding 12.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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